Setting a new bar for its online presence, Reddit, the globally recognized social media giant, recently unveiled its fourth series of Collectible Avatars in a groundbreaking collaboration with Cool Cats. Named 'Retro Reimagined,' this range celebrates Reddit's steady plunge into the Web3 domain since July 2022. It showcases creations from prolific creators such as Micah Johnson, and Chris Torres. The highlight of the series remains the contributions by Cool Cats co-founder Clon.
New Avatar Collection: A Roaring Success
The latest collection includes three distinctive avatars carved in Cool Cats' unique style, namely Blue Cat and Chugs, Shadow Wolf, and C4T Monitor. The popularity of these offerings was instant and overwhelming. At the time of reporting, both Shadow Wolf and the C4T Monitor Collectible Avatar were completely sold out.
Cool Cats, since its inception in July 2021, has pulled in a staggering $388 million from NFT sales, as reported by CryptoSlam. Backed by Animoca Brands, Cool Cats began with a collection of 9,999 animated cat avatars. The brand then extended its reach into an exciting universe of digital collectibles, animated content, comics, games, and merchandise through its world of Cooltopia.
Reddit's Web3 Success Story
Reddit stands out among its Web2 counterparts for its successful efforts in enabling its mainstream users to adopt Web3-based technologies, sometimes unknowingly. This integration strategy has been effective, resulting in the growth of Reddit's Collectible Avatars held by over 14 million users and recording a total sales volume exceeding $33 million, as reported by a Polygon Analytics Dune Dashboard.
Through its strategy of consciously avoiding Web3's technical lingo, Reddit aims to foster a more organic adoption of these technologies. The excitement around these drops is palpable; Reddit's previous avatar drops garnered $2.5 million in sales in just one day from October 23-24, 2022.
Despite the current decline in the NFT market and the uncertainty within the cryptocurrency sector, there remains a level of optimism that companies and brands will unlock the true potential of these digital assets, demonstrating genuine authenticity and value.
Previously, in February, Reddit launched its free Super Bowl LVII Collectible Avatars, providing users with the choice to mint one of four types of collectibles â Eagles, Chiefs, The Champs, or LVII Super Fans.
